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Guyana President downplays ‘renegotiation’ of ExxonMobil contract

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Guyana’s Head of State, President David Granger has downplayed the notion of renegotiating the Production Sharing Agreement between the South American country and ExxonMobil affiliate - Esso Exploration and Production Guyana Limited. Speaking to members of the media on Wednesday...
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Maduro claims Venezuela lifted oil production by 250,000 Bpd

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(OilPrice) While analyst estimates and official figures show that Venezuela’s crude oil production continues to plummet amid a severe economic crisis and cash crunch, Venezuelan President Nicolas Maduro—true to his rhetoric--said on Thursday that the country’s oil production had increased...
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Largest oil and gas lease sale in U.S. history set for March

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The U.S. Department of the Interior will offer 77.3 million acres offshore of Texas, Louisiana, Mississippi, Alabama and Florida for oil and gas exploration and development. This will be the largest such lease sale in the country's history. It will...
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Oil and gas sector recovery ‘not yet certain’ says OCBC CEO

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The risk that banks face within the oil and gas sector is currently "contained" but the outlook for the industry remains far from certain, according to the CEO of Singapore's oldest bank. OCBC's Samuel Tsien said that rising oil and gas prices indicate...
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Developing Guyana O&G sector without civil society foolhardy – Redford

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Civil Society’s input – informed or not - ultimately guides the development of an emerging oil and gas industry, and as such, in a Guyana context, there is need for a greater embrace of collaboration between the industry and...
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Petroleum Commission will not collect oil revenue – MNR

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Guyana’s Ministry of Natural Resources (MNR) said on Thursday that the country’s tax agency; Guyana Revenue Authority (GRA), will be responsible for the collection of revenue associated with oil production, and not the soon to be established Petroleum Commission. In...
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Guyana oil will fuel global economic growth – ExxonMobil VP

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The emerging oil and gas industry in Guyana, where ExxonMobil has to date discovered an estimated 3.2 billion recoverable oil-equivalent barrels, will not only fuel economic growth in the South American country, but across the world. This is according...
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Noble Energy divesting Gulf of Mexico assets for $710 million

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Noble Energy, Inc. (NYSE: NBL) announced on Thursday that a $750 million share repurchase program has been authorized by its Board.  In addition, the Company has executed an agreement to sell its deepwater Gulf of Mexico assets to Fieldwood Energy LLC ("Fieldwood") for a total value of $710...
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Guyana must avoid borrowing on projected oil revenue – Fmr T&T Energy Minister

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Former Minister of Energy and Energy Affairs in Trinidad and Tobago, Kevin Ramnarine, believes Guyana would do well to guard against any borrowing on its projected income from oil since these revenues are merely estimates, being made in an...
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GTT CEO tells investors Guyana is the place to do business

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Guyana’s push for improved telecommunications infrastructure and e-governance connectivity along with its secure geopolitical environment and stable currency rate make it an ideal investment destination. This is according to Justin Nedd, Chief Executive Officer (CEO) of the American owned...
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Exxon to relinquish 9% of Stabroek Block acreage

ExxonMobil will relinquish at least 9% of the vast Stabroek Block in Guyana as required by its petroleum agreement,...

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